Air Products and Chemicals (MIL:1APD) EBIT: €2,567 Mil (TTM As of Mar. 2026)


MIL:1APD Air Products and Chemicals Inc MIL:1APD
22 GF Score
Price €248.80
GF Value €249.98
Valuation Fairly Valued
! 5 Warning Signs
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What is Air Products and Chemicals EBIT?

Air Products and Chemicals MIL:1APD 22 EBIT is €2,567 Mil as of Mar. 2026. GuruFocus rates MIL:1APD with a GF Score™ of 22/100 and a GF Value™ of €249.98 (Fairly Valued). The stock has 5 warning signs investors should review.

Air Products and Chemicals's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was €807 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was €2,567 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Air Products and Chemicals's annualized ROC % for the quarter that ended in Mar. 2026 was 6.65%. Air Products and Chemicals's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 13.64%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Air Products and Chemicals's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 3.54%.


Air Products and Chemicals  (MIL:1APD) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Air Products and Chemicals's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=2604.34 * ( 1 - 17.96% )/( (31601.843 + 32626.156)/ 2 )
=2136.600536/32113.9995
=6.65 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=35219.558 - 2741.169 - ( 876.546 - max(0, 2987.207 - 4358.133+876.546))
=31601.843

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=36022.665 - 2573.894 - ( 822.615 - max(0, 3039.004 - 4335.899+822.615))
=32626.156

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Air Products and Chemicals's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=3228.18/( ( (23115.474 + max(49.532, 0)) + (23883.947 + max(275.416, 0)) )/ 2 )
=3228.18/( ( 23165.006 + 24159.363 )/ 2 )
=3228.18/23662.1845
=13.64 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1618.245 + 673.037 + 543.486) - (2741.169 + 0 + 44.067)
=49.532

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1676.11 + 664.233 + 552.044) - (2573.894 + 0 + 43.077)
=275.416

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Air Products and Chemicals's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=2566.841/72437.485
=3.54 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Air Products and Chemicals EBIT Related Terms


Air Products and Chemicals EBIT Historical Data

* Premium members only.

The historical data trend for Air Products and Chemicals's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Air Products and Chemicals EBIT Chart

Air Products and Chemicals Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2,251.82 2,911.53 2,867.13 4,541.04 -193.15

Air Products and Chemicals Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2,036.02 825.56 161.11 773.13 807.05

MIL:1APD vs ECL, SHW, PPG: EBIT Comparison

For the Specialty Chemicals subindustry, Air Products and Chemicals's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Air Products and Chemicals EV-to-EBIT vs Chemicals Industry

For the Chemicals industry and Basic Materials sector, Air Products and Chemicals's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Air Products and Chemicals's EV-to-EBIT falls into.


MIL:1APD
22GF Score
Air Products and Chemicals Inc MIL:1APD
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Air Products and Chemicals EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €2,567 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of €2,567 Mil mean?
Air Products and Chemicals (MIL:1APD) has a EBIT of €2,567 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Air Products and Chemicals.
Is Air Products and Chemicals' EBIT too high?
Air Products and Chemicals' current EBIT is €2,567 Mil. Overall, Air Products and Chemicals has a GF Score™ of 22/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Air Products and Chemicals' EBIT compare to ECL and SHW?
Air Products and Chemicals' EBIT of €2,567 Mil can be compared against companies in the Chemicals industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for a Chemicals company?
A good EBIT depends on the Chemicals industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Air Products and Chemicals. Air Products and Chemicals's current EBIT is €2,567 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Air Products and Chemicals stock overvalued right now?
Based on GuruFocus' analysis, Air Products and Chemicals (MIL:1APD) is currently considered Fairly Valued. The stock's GF Value™ is €249.98, compared to a current price of €248.80 — trading 0.5% below its estimated fair value. The current EBIT is €2,567 Mil. Air Products and Chemicals' overall GF Score™ is 22/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Air Products and Chemicals (MIL:1APD), the current EBIT is €2,567 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Air Products and Chemicals (MIL:1APD) Overvalued in 2026?

Based on GuruFocus' analysis, Air Products and Chemicals stock appears to be undervalued. The current stock price of €248.80 is trading 0.5% below its estimated GF Value™ of €249.98. GuruFocus considers Air Products and Chemicals to be Fairly Valued.

Key valuation signals for MIL:1APD:

  • EBIT: €2,567 Mil
  • GF Value™: €249.98 vs. price of €248.80 (0.5% below fair value)
  • GF Score™: 22/100 with 5 warning signs

No single metric tells the full story. See the MIL:1APD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Air Products and Chemicals Business Description

Address 1940 Air Products Boulevard, Allentown, PA, USA, 18106-5500
Since its founding in 1940, Air Products has become one of the leading industrial gas suppliers globally, with operations in 50 countries and 19,000 employees. The company is the world's largest supplier of hydrogen and helium. It has a unique portfolio serving customers across industries, including chemicals, energy, healthcare, metals, and electronics. Air Products generated roughly $12 billion in revenue in fiscal 2025.
22GF Score

Get the complete analysis for MIL:1APD

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€248.80
Price
€249.98
GF Value